John Fredriksen is ready to dip into his own pocket and pile cash into flagship tanker company Frontline.
Fredriksen, who bailed out bulker owner Golden Ocean after the 2008 crash, will need to act fast with Frontline likely to breach its loan covenants by the close of 2011 and requiring further funds in the first part of next year.
The tanker owner’s struggles after a poor market during the past two years was laid bare as it reported a third quarter loss and gassed its dividend today.
It
